While Palantir has dominated headlines in the AI sector, several companies are quietly positioning themselves to surpass the data analytics giant. The AI market landscape is shifting rapidly, and Palantir’s sky-high valuation might soon look less impressive compared to some hungry competitors. Really, it was only a matter of time. These companies are leading the charge in deep tech innovation, aiming to solve major global challenges through revolutionary solutions rather than incremental improvements.

Qualcomm and AMD stand out as the two most likely contenders to overtake Palantir by 2026. Qualcomm‘s Snapdragon processors are becoming ubiquitous in AI-enabled devices, creating a massive revenue stream that’s only getting started. Their stock is currently undervalued too, which means there’s substantial room for market cap growth. Adobe’s integration of generative AI capabilities into its industry-standard creative tools positions it as another strong competitor to Palantir.

Qualcomm and AMD are poised to leapfrog Palantir, with undervalued stocks and AI hardware dominance building unstoppable momentum.

AMD, meanwhile, is gobbling up market share from Intel like a hungry teenager at an all-you-can-eat buffet. AMD’s data center revenue grew an impressive 69% year over year in Q4, reaching $3.9 billion.

The AI chip market is booming, frankly. Every smartphone, laptop, and even toaster (okay, not quite yet) wants AI capabilities baked in. This isn’t just some tech fad—it’s reshaping entire industries. Companies that supply the hardware powering this revolution are sitting pretty. Qualcomm and AMD are right in the sweet spot.

Sales numbers tell the story. AMD is projecting significant earnings growth, particularly in data center AI applications. Qualcomm’s chips are in practically every major smartphone manufacturer’s devices. The math isn’t complicated.

Of course, market volatility could throw a wrench in things. Tariffs, competition, and the general unpredictability of tech adoption rates all pose risks. Intel isn’t just going to roll over and let AMD take its lunch money. Nvidia remains the undisputed king of AI accelerators.

Still, the trajectory is clear. As AI becomes more integrated into everyday devices and enterprise systems, the companies providing the underlying technology stand to benefit enormously.

Palantir’s impressive run has been great theater, but Qualcomm and AMD are building something potentially more valuable: the actual foundation of the AI revolution. By 2026, the numbers might just prove it.